Email this article to a friend

RBC Capital Markets has rehired a former executive to head its corporate debt team in London, as the Canadian bank looks to build its primary DCM business following an initial focus on the sovereign markets.

Geoff Knight has rejoined RBC Capital Markets from Lloyds TSB Corporate Markets as head of corporate DCM in Europe, according to a source familiar with the situation. RBC Capital Markets was unavailable for comment.

He previously worked for the bank between 2001 and 2007, when he left to join Lloyds.

Fergus Kiely has joined as a director in the European medium-term notes business, according to a source familiar with the hire. He has previously worked at Stormharbour Securities, ICP Capital and National Australia bank.

RBC Capital Markets was ranked 27th in corporate DCM rankings in Europe in 2009, and stands at 38th for the year to date, according to Dealogic.

The appointments come as the Canadian bank looks to build its primary debt business in the corporate sector, having initially focused its efforts on building a European government bond business. The bank was named a gilt-edged market maker in the UK in 2000, but has ramped up its sovereign business in the UK and Europe in the past year.

Speaking to Bloomberg earlier this month, Harry Samuel, global co-head of fixed income and currencies in London at RBC Capital Markets, said the bank was focused on a number of government-bond markets in the eurozone, and was building infrastructure to support its growth plans.

The bank has hired a number of professionals to the rates business, including Diego Megia, a former head of rates trading at BNP Paribas, who joined in April as a managing director in rates trading, Europe.

Related

At the time of the appointment, the bank said it planned to expand its European platform in euro-denominated rates cash and derivatives trading, with a focus on building a European government bond business.

In February, the bank appointed Société Générale's Bertrand Fitoussi, formerly a senior business head in credit and rates at the bank, as head of European structured interest rate sales.

• Separately, Citigroup has confirmed the appointment of Phil Gee as head of investment grade credit trading for Europe, Middle East and Africa, joining from RBC Capital Markets, where he was head of European credit trading. Financial News reported his departure from the Canadian bank earlier this month.

In addition, the US bank has hired James Duffy as a senior investment grade trader from Société Générale. Mike Reeb has also joined the bank from HSBC as a senior investment grade trader focusing on autos and retailers. Both report to Gee.